Abzena–Biospring Partners: investment, 202203 financing round totalling $65m incl existing investor Biospring Partners

	Period	2022-03-31
	Predecessor	Abzena–Biospring Partners: investment, 202007 investment $10m by Biospring Partners
	Money taker	Abzena Ltd. (since 2018)
	Group	Abzena (Group)
	Money source	Biospring Partners (US)
	Product	contract manufacturing (biologicals)
	Product 2	private equity
	Index term	Abzena–SEVERAL: investment, 202203 financing round $65m from majority owner WCAS with Biospring Partners + affilaited investors
	Person	Dipp, Michelle (Biospring Partners 2020– Co-Founder)

Abzena Ltd.. (3/31/22). "Press Release: Abzena Secures $65 Million in Additional Funding to Accelerate Growth and Expand Capacity". San Diego, CA.

Investment from Welsh, Carson, Anderson & Stowe and Biospring Partners allows Abzena to expand manufacturing facilities for biologic drug substance, fill finish, and to open a biologic testing laboratory.

Abzena, a leading global contract development and manufacturing organization (CDMO) providing integrated discovery, development, and manufacturing of biologics and antibody drug conjugates (ADCs), today announced a new round of investment. Funding sources for the additional $65 million include majority-owner Welsh, Carson, Anderson & Stowe (WCAS), Biospring Partners, and other affiliated investors.

Abzena is able to deliver the full spectrum of fully integrated discovery through to GMP solutions in biologics and ADCs. This latest investment will allow Abzena to address growing demand by increasing the capacity of its manufacturing capabilities for both clinical and commercial supply. In addition to building out existing and new manufacturing facilities, this funding will be used to augment drug discovery and cell line offerings, add fill finish (Drug Product) capabilities and complete a new biological testing laboratory.

Abzena is opening a new GMP manufacturing facility in Sanford, North Carolina expected in the fourth quarter this year, its sixth site in a global network providing integrated biologic solutions. The significant expansion of Abzena's capacity is driven by an increase in customer demand for clinical and commercial scale 2,000L single use bioreactors across a wide range of therapeutic areas.

“At Abzena, we put patients at the center of all that we do. This new capital will allow us to develop and manufacture a greater number of novel treatments for more patients. I am delighted to see Abzena grow to become the most innovative and flexible company providing these integrated solutions," said Jonathan Goldman MD, CEO of Abzena. “We're grateful for the support from WCAS and Biospring Partners and their recognition of the urgent need for therapeutic innovation.”

“We are proud of the tremendous growth of Abzena and believe that this investment will enable the Company to continue its path of growth and innovation. We are excited to partner with the Abzena team and our friends at Biospring for this investment, for the benefit of our leading biopharma customers and, ultimately, patients,” said Nick O'Leary, General Partner at WCAS.

“Abzena is uniquely positioned to serve a large and growing number of biopharmaceutical companies focused on important new biologic medicines for patients," said Michelle Dipp MD, PhD, Managing Partner of Biospring Partners. “At Biospring, we're committed to supporting companies that are driving biopharma innovation, and we are pleased to have the opportunity to continue to back Abzena's growth."

About Abzena

Abzena provides the most complete set of solutions in integrated early discovery to clinical and commercial biotherapeutic and bioconjugation drug development and manufacturing in the biopharmaceutical industry. The company maintains resources around the world, with facilities in the US and UK. Abzena is owned by Welsh, Carson, Anderson & Stowe, one of the world's leading private equity investors. For more information, please see www.abzena.com.

About Welsh, Carson, Anderson & Stowe

WCAS is a leading U.S. private equity firm focused on two target industries: healthcare and technology. Since its founding in 1979, the firm's strategy has been to partner with outstanding management teams and build value for its investors through a combination of operational improvements, growth initiatives and strategic acquisitions. WCAS has deep experience in acquiring founder-led businesses and corporate carve-outs. The firm has raised and managed funds totaling over $30 billion of committed capital. For more information, please visit www.wcas.com.

About Biospring Partners

Biospring Partners invests in growth stage life sciences technology companies. Founded in 2020 by Michelle Dipp, MD PhD and Jennifer Lum, Biospring leverages its deep experience in the life sciences and technology industries to support B2B services, tools, and enterprise software companies that are driving innovation across the life sciences industry and beyond. For more information, please see www.biospring.com.

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Contact

Sunshine Sachs
biospring@sunshinesachs.com

Abzena
ramarketing
Kristy Harmer, Kristy.Harmer@ramarketingpr.com